The discovery of spin-dependent electronic phenomena occurring in magnetic multilayers {Parkin, S. S. P., et al., Phys. Rev. Lett., 66:2152-2155 (1991)} and granular solids {Xiao, J. Q., et al., Phys. Rev. Lett., 68:3749-3752 (1992); Berkowitz, A. E., et al., Phys. Rev. Lett., 68: 3745-3748 (1992)} is raising interesting scientific questions regarding spin interactions in reduced dimensional magnetic systems and giving rise to new device technologies. In particular, exploring magneto-electronic or -optical behavior within semiconducting compounds offers the exciting possibility of combining local magnetism with the flexibility of semiconductor-based quantum electronic structures {Prinz, G., Science, 250:1092-1097 (1990)}. Recent attempts at including ferromagnetism in III-V semiconductors required atomically layered deposition under precise epitaxial growth conditions, yielding two-dimensional magnetic thin films. {Tanaka, M., et al., Appl. Phys. Lett., 63:696-698 (1993)}.